Chemicals sector faces transition dilemma
Transitioning to low-carbon is complicated but represents huge opportunities for the sector, says new report
The chemicals sector could grow annual production by a factor of 2.5 by 2050 while still being aligned with the goals of the Paris Agreement, according to a study by consultancy Systemiq. But the sector is lagging on its commitments to decarbonise and is expected to be one of the slowest industries to transition. “The chemicals industry is a complex industry—there is a lot of different parts and processes to it,” report co-author Alexandre Kremer tells Transition Economist. “It is not easy for regulators to get moving and find consensus.” The chemicals sector represents just under 4pc of the 59gt of annual global greenhouse gas emissions. If the industry continued to scale up at its current
Also in this section
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
14 January 2025
Bioenergy will be a key part of the energy transition as the world decarbonises, and Brazil is set to be a major player in the sector
14 January 2025
The region has ample resources of both gas and renewable energy and developing both will be vital to the global effort to reduce emissions
13 January 2025
The region’s fast-growing economies stand at a pivotal juncture, with the opportunity to drive a sustainable growth strategy that will keep the world’s net-zero ambitions alive